Investors Keep Focus on Recovery, Dow Shoots Higher - InvestingChannel

Investors Keep Focus on Recovery, Dow Shoots Higher



Stocks rose on Tuesday as investors looked past civil unrest around the country and focused on the reopening of the economy from the coronavirus pandemic.

The Dow Jones Industrials leaped 103.91 points to 25,578.93.

The S&P 500 added 4.75 points to 3,060.48.

The NASDAQ Composite removed 15.89 points to 9,536.16.

Stocks tied to the reopening of states outperformed once again. American Airlines, United Airlines and Southwest all added more than 3%. Gap advanced 2.7% and Kohl’s shares gained 1.9%. Cruise lines were also higher.

Tuesday’s moves came after President Donald Trump said Monday night he will deploy the military if states and cities failed to quell the demonstrations.

The stock market has largely ignored the unrest, but that could change if investors believe the protests would continue through the summer, disrupting states plans to reopen and hurting consumer confidence.

New York Gov. Andrew Cuomo announced New York City will be under curfew Monday night starting at 11 p.m. and lasting until 5 a.m. Tuesday to curb protests. Similar curfews were instituted in cities across the country in an effort to dissolve mass gatherings.

Prices for the 10-Year Treasury stayed put, keeping yields at Tuesday’s 0.66%. Treasury prices and yields move in opposite directions.

Oil prices moved upward 47 cents to $35.91 U.S. a barrel.

Gold prices took on $3.30 to $1,753.60 U.S. an ounce.